LOOP, a pan-African lifestyle brand built around finance launched LOOP FLEX. A Buy Now, Pay Later [BNPL] credit facility that lets customers split payments into monthly instalments as LOOP pays merchants upfront.
Under LOOP FLEX, customers make a minimum 10% deposit and LOOP settles the full purchase amount directly with the merchant. The balance is repaid in monthly instalments over up to 12 months, with interest applied to the loan amount.
Credit limits start at KES 15,000 and go up to KES 1,000,000, supporting both essential and aspirational spending. Customers qualify when they fully register on LOOP, maintain a positive LOOP FLEX limit, have no overdue loans, and accept the product’s terms and conditions.
“LOOP FLEX gives our customers the power to enjoy life today while responsibly managing tomorrow.” With this product, therefore, we are reimagining how our customers experience smarter, more flexible financial solutions.” Said Eric Muriuki, CEO, LOOP DFS.
Repayments are monthly, with a minimum loan amount of KES 9,000. Customers can hold up to five active FLEX loans at any time. LOOP uses risk-based pricing aligned with its pricing matrix. It charges a facility fee of 4% of the disbursed amount plus applicable excise duty to ensure affordability, transparency, and responsible lending.
The launch of LOOP FLEX strengthens LOOP’s push to leverage technology for flexible, convenient financial solutions across its customer base.
